https://www.taxtmi.com/caselaws?id=375116 The Income Tax Appellate Tribunal (ITAT) dismissed the department's appeal challenging the disallowance of TDS on bank charges and gratuity liability under sections 40(a)(ia) and 115JB of the Income Tax Act, 1961. The ITAT upheld the decisions of the Commissioner of Income Tax (Appeals) in favor of the assessee, citing previous orders and emphasizing the strict construction of penal provisions. The ITAT concluded that the bank charges were deducted before payment to the assessee, negating the need for TDS, and that the provision for gratuity was a valid liability based on actuarial valuation. The appeal was dismissed on 28th January 2019. en-us Mon, 28 Jan 2019 00:00:00 +0530 Fri, 15 Feb 2019 08:05:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375116 The Income Tax Appellate Tribunal (ITAT) dismissed the department's appeal challenging the disallowance of TDS on bank charges and gratuity liability under sections 40(a)(ia) and 115JB of the Income Tax Act, 1961. The ITAT upheld the decisions of the Commissioner of Income Tax (Appeals) in favor of the assessee, citing previous orders and emphasizing the strict construction of penal provisions. The ITAT concluded that the bank charges were deducted before payment to the assessee, negating the need for TDS, and that the provision for gratuity was a valid liability based on actuarial valuation. The appeal was dismissed on 28th January 2019. Case-Laws Income Tax Mon, 28 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375116